Tom Golisano, a prominent entrepreneur and philanthropist, has made headlines with his recent announcement of a staggering $360 million donation to 82 non-profit organizations across Upstate New York. This historic commitment aims to support various causes, including healthcare, education, and disability services, significantly impacting the communities of Rochester, Buffalo, and Syracuse.
Key Takeaways
- Total Donation: $360 million to 82 non-profits.
- Lifetime Giving: This donation nearly doubles Golisano’s lifetime giving to $775 million.
- Range of Awards: Unrestricted, multiyear awards ranging from $250,000 to $20 million.
- Focus Areas: Healthcare, education, animal welfare, and disability services.
- Foundation Support: A transformative $52 million award to the Golisano Foundation.
A Historic Commitment
On September 17, 2024, Tom Golisano announced his unprecedented donation during a press conference in Rochester, NY. This generous act is not just a financial contribution; it reflects Golisano’s deep commitment to the communities where he built his life and business.
Golisano stated, "I’m thrilled to provide support to the Upstate New York community. I know that there are many organizations doing great work and understand that running a nonprofit is not easy. These awards are the result of relationships I’ve formed over the years."
Unrestricted Funding for Diverse Causes
The donations will be distributed as unrestricted, multiyear awards, allowing the recipient organizations to utilize the funds as they see fit. The awards range from $250,000 to $20 million, paid over four to five years. This flexibility is crucial for non-profits, enabling them to address immediate needs and plan for long-term projects.
Impact on the Golisano Foundation
In addition to the donations to various non-profits, Golisano is also making a significant $52 million contribution to the Golisano Foundation. This infusion will increase the foundation’s total investment assets to $120 million, allowing it to boost its annual giving from approximately $3 million to over $5 million. This increase will provide even more opportunities for organizations to access essential grant funding.
A Legacy of Philanthropy
With this latest commitment, Golisano’s total philanthropic contributions have reached $775 million. His previous donations have primarily focused on supporting individuals with intellectual and developmental disabilities through the Golisano Foundation, which he founded in 1985. The foundation has awarded over $41 million in grants to various organizations, demonstrating Golisano’s long-standing dedication to community service.
Looking Ahead
Golisano’s recent announcement follows his earlier commitment of $50 million to the University of Rochester Medical Center to establish the Golisano Intellectual and Development Disabilities Institute, marking his largest single gift to date.
As Golisano continues to support Upstate New York, he encourages non-profit organizations to explore the opportunities available through his foundation, emphasizing the importance of understanding community needs and fostering relationships with local organizations.
This monumental donation not only strengthens the fabric of the Upstate New York community but also sets a powerful example of philanthropy in action, inspiring others to contribute to the greater good.
Sources
- Tom Golisano Donates $360 Million to 82 Non-Profits Across Upstate New York, WATE 6 On Your Side.
- You can help make ‘Dreams Come True’ for local children battling life-threatening medical conditions, News4JAX.
- Tom Golisano Donates $360 Million to 82 Non-Profits Across Upstate New York, KTALnews.com.
- Tom Golisano Donates $360 Million to 82 Non-Profits Across Upstate New York, FOX 56 News.
